Falcon-7B Instruct is an open-source Large Language Model (LLM) developed by the Technology Innovation Institute, offering a compelling alternative to GPT-3. With approximately 15GB of GPU memory requirements, Falcon-7B Instruct is more accessible on consumer hardware than its larger sibling, Falcon-40B. The model has been fine-tuned on instructions and conversational data, making it particularly suitable for assistant-style tasks such as copywriting, summarization, and code writing. Falcon-7B Instruct also excels in scenarios where following instructions and engaging in interactive conversations are crucial, offering a more specialized solution than GPT-3's broader capabilities. The model is now available on Monster API at an affordable rate of $0.01 for 1000 tokens, making it a budget-friendly option for developers and businesses seeking access to state-of-the-art AI capabilities.